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US startup simplifying home battery and solar connections secures $35m

Source：www.ess-news.com

ConnectDER has landed the Series D funding to support its meter socket adapter (MSA) business, which integrates home energy storage, solar, electric vehicle (EV) charging and more while avoiding main electrical panel upgrades.

 

Home energy technology provider ConnectDER has secured $35 million from a Series D funding round, to scale its MSA business.

 

ConnectDER’s IslandDER MSA product is designed to cost-effectively connect home energy devices including batteries, solar panels, EV chargers, and other distributed energy resources (DERs) to the grid.

 

Many US homes are 40 to 60 years old and feature electrical boxes inadequate for supporting DERs such as home solar and energy storage. ConnectDER said 60 million US homes lack the equipment to support such systems. Upgrading a home electrical panel can cost $2,000 to $15,000 or more, presenting a roadblock for new technology. Data company Pecan Street Inc said that represents a potential $100 billion roadblock to home electrification.

 

ConnectDER said the IslandDER must be installed by a licensed electrician or solar professional but can be added within minutes and costs 10% the price of a typical main panel upgrade, or even less.

 

The IslandDER enables homes to disconnect and reconnect to the grid, meaning customers can harness energy from batteries and solar panels or EVs.

 

“Leveraging innovative technologies and solar equipment like ConnectDER adapters allows us to streamline installation timelines, reduce complexity, and deliver reliable, affordable renewable energy solutions that enhance the homeowner experience from start to finish,” said Chris Lundell, interim CEO at installer Blue Raven Solar.

 

The ConnectDER funding round was led by Decarbonization Partners and MassMutual Ventures, both new investors in the company. Decarbonization Partners is a joint venture owned by investors BlackRock and Singapore-based Temasek. Existing investors Avista Development, Clean Energy Ventures, Energy Innovation Capital, Evergy Ventures, LG Technology Ventures, and Zoma Capital also participated.

 

Philadelphia-based ConnectDER said it plans to use the Series D funding to support market expansion, scaling manufacturing, and continued product innovation. The startup said it has more than 25,000 adapters in operation. The MSA is approved for use in many states and ConnectDER said it expects to be selling the device nationwide within the next few years.

 

The company has partnered with large solar installers including Sunrun, enabling coordinated installation of the IslandDER alongside home solar and energy storage projects.

 

ConnectDER said the manufacturer’s suggested retail price for its solar MSA is $559, with variations depending on model and region. The EV meter socket adapter is listed at $875.

 

The company’s products are listed by safety certification body Underwriters Laboratories, National Electrical Code compliant, and approved for installation in more than 20 states. Availability for the solar and EV meter socket adapters can be checked here.

 

From pv magazine USA.

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